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"It is reassuring to see that this key segment of the boomer generation appears confident about their plans, and also rightfully focused on finding creative ways to make the transition work and get the most out of this stage of life."

SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab, one of the country’s leading providers of savings, investment and income solutions for people in or transitioning into retirement, today released the findings of its quarterly retirement pulse survey which reveals that baby boomers approaching retirement in today’s rocky economic conditions have maintained a surprisingly stable view about their retirement prospects.

According to findings from the Schwab survey of baby boomers ages 50 to 60:

The majority (54 percent) does not expect to delay their planned retirement date despite challenging economic conditions; significantly fewer (38 percent) expect to retire later than they had originally planned.

Supporting that sense of calm is an emerging perspective among this demographic that retirement is not necessarily a sudden shift from “on” to “off” – 88 percent of those surveyed expect to continue to work even after becoming eligible for full retirement benefits, citing “the need for more money” (28 percent) as the leading reason, followed closely by “a desire to remain active mentally, physically or socially” (25 percent).

Asked if they expected they would need financial support from others at some point during retirement, the vast majority (74 percent) said “no.”

More than half (54 percent) feel it is likely they will enter retirement debt free.

Reflecting on lessons learned over decades of saving and investing, when asked what are the most important lessons they would like to teach younger generations about saving and investing, half (50 percent) suggested “live within your means” followed by “begin to save at an early age” (30 percent).

“While the current economic environment has certainly influenced the saving and spending habits of investors, we found it encouraging that people are approaching the transition into retirement with the optimism they can stick to their retirement timelines,” said Schwab financial consultant Tad Fryer. “It is reassuring to see that this key segment of the boomer generation appears confident about their plans, and also rightfully focused on finding creative ways to make the transition work and get the most out of this stage of life.”

For More Information

To help the millions of Americans nearing retirement, Schwab’s Real Life Retirement Services provides insightful information and online tools to help answer questions such as:

Can I afford to retire?

When should I take Social Security?

How can I generate retirement income?

Schwab’s realistic approach to retirement also highlights stories from Americans who have successfully transitioned into retirement. For more information, please visit www.schwab.com/RealLifeRetirement or follow Schwab on Twitter @CharlesSchwab.

About the Study

The Charles Schwab Q3 Retirement Survey was conducted by Kelton Research between July 15and July 26, 2010 using Random Digit Dialing of listed and unlisted numbers. Quotas are set to ensure reliable and accurate representation of the total U.S. population ages 50 to 60 years old. Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. In this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 4.9 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.

About Charles Schwab

The Charles Schwab Corporation (NYSE:SCHW) is a leading provider of financial services, with more than 300 offices and 7.9 million client brokerage accounts, 1.5 million corporate retirement plan participants, 813,000 banking accounts, and $1.4 trillion in client assets. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through its Advisor Services division. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and mortgage services and products. More information is available at www.schwab.com and www.aboutschwab.com. (0810-5519)